US investment firm acquire minority share in Fosun Sports to help Wolves crack American market

A US investment firm has secured a minority share in newly-formed Fosun Sports to help Wolves crack the North American market.

Molinuex (AMA)
Molinuex (AMA)

Chicago-based PEAK6 Investments will inject fresh funds, as well as offer expertise and give Wolves a presence in the US, as the club attempts to expand their reach across the pond.

Wolves have also put a lot of emphasis on investments outside of football, such as Esports, and PEAK6 will help in expanding the club's growth in that market. PEAK6 own Esports brand Evil Geniuses, which Wolves partnered with in July this year.

The US firm also formerly owned stakes in Italian giants Roma, as well as Championship club Bournemouth and American hockey franchise Minnesota Wild.

The investment from PEAK6 coincides with the formal establishment of Fosun Sports, a subsidiary of Fosun International. The new company has been described in Wolves' statement as 'a community of sporting businesses and investments built around Wolves and the Wolves brand'.

The statement continued: "The formalisation of Fosun Sports provides clarity, collaboration and communication between companies that use the Wolves brand, such as Wolves Esports, Wolves Records and Chinese fashion brand WWFC, as well as a stronger platform for further investment opportunities and a clear sign of Fosun’s long term commitment to Wolves.

"The Fosun Sports family exists to drive innovation, foster entrepreneurial spirit, win through excellence, and power the football club at its heart, on and off the pitch."

Two new additions have also been made in the boardroom in advisory positions, with James Baboulas, PEAK6’s associate general counsel and member of PEAK6’s strategic capital team, set to serve on the supervisory board of Fosun Sports, and PEAK6 capital management trader John Makowiec becoming a director at Wolves.

Wolves’ executive chairman Jeff Shi said: “We have been in deep conversation with PEAK6 for more than a year and we are delighted to welcome them officially to the Wolves family.

“Our organisations have great synergy, from our mutual desire to challenge conformity, our openness for collaboration, and of course our shared passion for sports, technology and achieving success through hard work, intelligence and innovation.

“Earlier this summer we announced a partnership with Evil Geniuses that saw us offer them a presence in China through our networks there, and now this partnership provides Wolves a firm foothold in all major areas of the globe: the USA and Americas, Europe and Asia.

“As well as great opportunities, we hope PEAK6 can help bring Fosun Sports and Wolves knowledge, wisdom and learning, and support Fosun Sports to become a sports industry group with global influence and much success.”

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